The Cambridge, Mass., company said Thursday that it acquired smaller rival JupiterResearch and its parent company JUPR Holdings for $23 million. The JupiterResearch brand will begin to serve Forrester's "Marketing and Strategy" client group.

JupiterResearch, considerably smaller than Forrester, had 83 employees and made $14 million in 2007, while Forrester Research, which has more than 1,000 employees, made $212 million.

Forrester also announced its second quarter earnings Thursday. The company had a $8.6 million profit on $63.5 million in revenue for the quarter ending June 30. Including the acquisition of JupiterResearch, the company predicts 2008 revenue between $246 million and $252 million, according to MarketWatch.